And job growth has been impressive: The U.S. economy is now adding jobs at a pace of about 3 million per year. The unemployment rate is the lowest it has been since April 2008 and broader measures of underemployment are improving as well.
The U.S. economy added 173,000 jobs in August, pretty much in line with recent trends of about 200K per month. The unemployment rate fell to 5.1 percent, again a drop that was pretty much in line with recent trends. The rest of the monthly report from the Bureau of Labor Statistics was similar: positive.
And as we've seen before, the jobs gains are not just quantity, but quality.
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